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Greed, and I’d add foolishness. But in the end, that guy bought himself some experience—though it cost him dearly, he’ll remember it for the rest of his life. That experience is priceless. Most of the time, we learn life’s lessons when we have to pay for them. If a person doesn’t pay for their lessons, they tend to ignore them and go in circles.
That guy had neither the theory of how it works nor the practice. If someone gets into something serious without theory or practice, it’s likely foolishness—and it will hurt. Practice without theory is dangerous; you’ll get bruises. And theory without practice is useless.
RE: Have You Ever Been Duped Into Doubling Your Money?